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GSF 1025 Study Guide - Midterm Guide: Marginalism, Marginal Distribution, Human Capital

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vexx
25 Feb 2023
School
Université Laval
Department
Gestion financière
Course
GSF 1025
Professor

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Document Summary

_____________________________________________________________________________: your buddy karl has requested you to drive him to the airport and he says that he will reimburse you for the expense of going there. It is a two-hour roundtrip journey with a cost of in gas. _____________________________________________________________________________: 1, the free-rider problem is a potential issue that may arise when professors assign group work in order to foster teamwork skills. In brief, it occurs when members of the group take advantage of their peers" contributions without contributing themselves. _____________________________________________________________________________: 2, the median is a concept that is closely related to the mean. It is the midpoint of your data, where half of the values are above it and half are below it. To calculate the median, you need to arrange all of your observations from smallest to largest and choose the one in the center (if you have an odd number of observations).

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Related Questions

The University of Kentucky Builds with Bonds
Every year, hundreds of colleges around the country build newbuildings. Where do most schools get the money for these expensiveprojects? From long-term bonds.
The University of Kentucky (UK) has issued “revenue” bonds tobuild buildings on the 23,000 student Lexington campus, and on 14community colleges throughout the state. These bonds pledge theschool’s revenues as collateral to guarantee payment of the bonds.At one time the outstanding debt on the Lexington campus buildingswas $137 million. The total debt on the community college buildingsequaled $121 million. The bonds generally have maturities rangingfrom 10 to 20 years.
Additional “guarantees” for bond purchasers are the ratingsgiven the bonds by professional rating agencies. Their bonds arerated “AA-“ by Standard & Poor’s Corporation, which is wellabove investment grade. Thee is always a very good market for thebonds.
People in Kentucky identify very closely with the university.Even though the bonds are rated “AA-” they trade at AAA (the topbond rating) because they are so easy to sell.
One advantage for investors: the bonds’ interest revenue idexempt from federal income tax and from state tax for in-stateinvestors. So, an issue offering 6% is the equivalent of 10% tothose individuals in the top tax bracket. Many investors feel veryconfident in buying the bonds, because it is inconceivable to themthat there would ever e a default.
1) The University of Kentucky’s bonds are rated “AA-“ byStandard & Poor’s and A1 by Moody’s Investor Service. Why is itimportant to the University of Kentucky that its bonds have a highbond rating?

Society ignored or even criticized the contributions of marketing until the beginning of the 20th century. At that time, economies once marked by a scarcity of goods began to enjoy an abundance of goods. Marketing skills were needed to solve the distribution problems that resulted. Thus, it was not until the early 1900s that the importance of marketing was realized - and that marketing was accepted as a separate academic subject in schools and colleges. Today, countries that operate with market‑directed economies have achieved genuine improvements in standards of living - while most command economies have collapsed or are "on the ropes." Even today, however, many people do not have a very clear understanding of marketing. No one single definition of marketing will satisfy everyone. Many people - including some students and business managers - tend to think of marketing as just "selling" or "advertising." Others see marketing as an all‑inclusive social process that can solve all the world's problems. Some critics, meanwhile, seem to blame marketing for most of society's ills!

This exercise is intended to help you see more clearly what marketing is all about. One way to learn about marketing is to study the definitions in the text. Another way is to use these definitions. This is the approach you will follow in this exercise.

Assignment

Listed below is a common criticism about marketing. Discuss your viewpoint in a way that shows your understanding of marketing.

Each student should post his/her answer and post comments to other student's posting (beyond simple agreement or disagreement; but with respect to personal opinion). Also, each student must respond to at least one comment of their initial post. Participation is required.

Listed below are some commonly asked questions about marketing. Answer each of these questions in a way that shows your understanding of marketing.

How would you respond to the criticism "Marketing just adds unnecessary costs to the price of everything we buy?"

Should marketing be viewed as a set of activities performed by business and nonprofit organizations, or alternately as a social process?

Why is it important to make this distinction?

The University of Kentucky Builds with Bonds
Every year, hundreds of colleges around the country build newbuildings. Where do most schools get the money for these expensiveprojects? From long-term bonds.
The University of Kentucky (UK) has issued “revenue” bonds tobuild buildings on the 23,000 student Lexington campus, and on 14community colleges throughout the state. These bonds pledge theschool’s revenues as collateral to guarantee payment of the bonds.At one time the outstanding debt on the Lexington campus buildingswas $137 million. The total debt on the community college buildingsequaled $121 million. The bonds generally have maturities rangingfrom 10 to 20 years.
Additional “guarantees” for bond purchasers are the ratingsgiven the bonds by professional rating agencies. Their bonds arerated “AA-“ by Standard & Poor’s Corporation, which is wellabove investment grade. Thee is always a very good market for thebonds.
People in Kentucky identify very closely with the university.Even though the bonds are rated “AA-” they trade at AAA (the topbond rating) because they are so easy to sell.
One advantage for investors: the bonds’ interest revenue idexempt from federal income tax and from state tax for in-stateinvestors. So, an issue offering 6% is the equivalent of 10% tothose individuals in the top tax bracket. Many investors feel veryconfident in buying the bonds, because it is inconceivable to themthat there would ever e a default.

3) Explain the meaning to the tax-exempt status of theUniversity of Kentucky bonds. What does it mean to say that “arecent issue offering 6% is the equivalent of 10% to thoseindividuals in the top tax bracket?”